Columbia Banking System (NASDAQ:COLB) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Columbia Banking System (NASDAQ:COLB) to a hold rating in a research report report published on Saturday morning.

Several other equities analysts have also commented on the stock. Cowen initiated coverage on shares of Columbia Banking System in a research report on Wednesday, September 24th. They set a “hold” rating for the company. Barclays upped their price objective on Columbia Banking System from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, December 19th. TD Cowen initiated coverage on Columbia Banking System in a report on Thursday, September 25th. They issued a “hold” rating and a $28.00 target price on the stock. Royal Bank Of Canada boosted their price target on Columbia Banking System from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Finally, Keefe, Bruyette & Woods raised their price objective on Columbia Banking System from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.58.

Columbia Banking System Trading Down 0.1%

Shares of NASDAQ:COLB opened at $28.59 on Friday. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 12.88 and a beta of 0.62. The stock’s 50-day moving average price is $27.41 and its two-hundred day moving average price is $25.89. Columbia Banking System has a 12-month low of $19.61 and a 12-month high of $29.61.

Columbia Banking System (NASDAQ:COLB) last posted its quarterly earnings data on Monday, March 4th. The financial services provider reported $0.76 EPS for the quarter. The company had revenue of $348.47 million during the quarter. Columbia Banking System had a net margin of 15.98% and a return on equity of 11.13%. As a group, research analysts forecast that Columbia Banking System will post 2.71 earnings per share for the current fiscal year.

Columbia Banking System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.2%. This is an increase from Columbia Banking System’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, November 28th. Columbia Banking System’s payout ratio is 66.67%.

Hedge Funds Weigh In On Columbia Banking System

A number of institutional investors and hedge funds have recently bought and sold shares of COLB. HighTower Advisors LLC raised its stake in shares of Columbia Banking System by 8.4% during the first quarter. HighTower Advisors LLC now owns 17,141 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 1,330 shares during the period. Comerica Bank grew its holdings in Columbia Banking System by 1.0% during the 1st quarter. Comerica Bank now owns 63,744 shares of the financial services provider’s stock valued at $1,590,000 after purchasing an additional 639 shares in the last quarter. Evergreen Capital Management LLC increased its stake in Columbia Banking System by 42.1% during the 1st quarter. Evergreen Capital Management LLC now owns 15,273 shares of the financial services provider’s stock worth $381,000 after buying an additional 4,526 shares during the period. Vident Advisory LLC lifted its holdings in Columbia Banking System by 10.0% in the 1st quarter. Vident Advisory LLC now owns 14,621 shares of the financial services provider’s stock worth $365,000 after buying an additional 1,331 shares in the last quarter. Finally, Mubadala Investment Co PJSC boosted its position in Columbia Banking System by 1.6% in the 1st quarter. Mubadala Investment Co PJSC now owns 85,989 shares of the financial services provider’s stock valued at $2,145,000 after buying an additional 1,392 shares during the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

Columbia Banking System Company Profile

Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.

The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.